Integration With Social Security

Definition of "Integration with social security"

Chris  Silva real estate agent

Written by

Chris Silvaelite badge icon

Homesmart

Method of reducing an employee pension according to IRS procedures:

  1. Offset method restricted to a DEFINED BENEFIT PLAN under which a mandatory percentage of the monthly Social Security benefit payable to a retired employee is subtracted from the monthly retirement benefit payable to the employee under a business firm's qualified retirement plan.
  2. Integration method-used with a defined benefit plan or a defined contribution plan under which a basic level of compensation established for a retired employee so that (a) for compensation above this level, the employee receives a greater retirement benefit; or (b) for compensation below this level, the employee receives a smaller retirement benefit.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Return of a percentage of premium paid by a business firm if its loss record is better than the amount loaded into the basic premium. ...

Same as term Excess of Loss Reinsurance: method whereby an insurer pays the amount of each claim for each risk up to a limit determined in advance and the reinsurer pays the amount of the ...

Type of inland marine insurance that provides coverage for jewels, watches, gold, silver, platinum, pearls, precious and semiprecious stones. Property can be owned by the insured jeweler, ...

Monetary fund established to pay for claims that the insurance company is aware of (claims incurred or future claims) but that the insurance company has not yet settled. This reserve is ...

Assets, such as furniture and fixtures, that are not permitted by state law to be included in an insurance company's ANNUAL STATEMENT. ...

Same as term Tabular Plans: retrospective rating system with basic, minimum, and maximum premium rates listed in manual tables. Calculation of an individual premium involves adjusting the ...

Group that monitors government health insurance programs. Authorized by the 1972 amendment to the Social Security Act, PSROs were set up to cut costs and minimize abuses by checking on the ...

Prospective insured who completes and signs a written form containing personal statements about himself/herself. ...

Same as term Ceding Company: insurance company that transfers a risk to a reinsurance company. ...

Popular Insurance Questions